Global wine exports declined significantly in 2025. As reported by wine industry analyst Del Rey/AWM on March 27, 2026, international wine trade saw a decrease of 6.3% in value and 4.7% in volume compared to 2024. This represents a loss for the sector of approximately €2.26bn and 4.65m hl.
The absolute figures for 2025 show a total revenue of €33.77bn and a trade volume of 94.76m hl. The average price per liter fell by 1.7% to €3.54. According to the analysis by Del Rey/AWM, the decline affected all categories. Bottled still wines recorded the sharpest slump, while Bag-in-Box (BiB) wines proved more resilient, losing only 2% in value.
Heterogeneous losses
Regarding wine-exporting nations, Del Rey/AWM pointed out that none of the 19 leading wine-exporting countries worldwide achieved a value increase in 2025. While the top three (France, Italy, and Spain) kept their losses below the 5% mark, the impact was more pronounced for numbers four and five, Australia (–14.7%) and Chile (–10.7%). Argentina, ranked 11th, also saw a decline of 12.8%.
The USA experienced a true collapse with a revenue decline of 35.9%. Germany, ranked 7th, fared better than the global average with a decrease of 4.7%. New Zealand performed relatively steadily as number six in the global export value ranking with a decline of 0.4%. According to Rafael del Rey, a significant €25.2m drop in the value of bulk wine exports was almost balanced by a €19.6m increase in bottled wine export sales. Portugal also achieved an above-average result with a value loss of only 1%.
Too much wine, too little time
According to Del Rey/AWM, these negative results underscore the persistent challenges within the sector. A look at wine export revenues from previous years shows that global wine trade in 2025 returned to levels seen before 2022. Revenue had risen to €34.6bn in 2021 after hitting a long-term low of approximately €30bn in 2020 due to the pandemic. Global wine trade revenue subsequently reached an all-time high of €37.9bn in 2022.
There is a surprise regarding consumption preferences. While Prosecco is the favorite product of Millennials and older consumers, Amarone della Valpolicella stands at the top of Gen Z's favorites with a purchase conversion rate of 68%, followed by Barbaresco, Taurasi, Bolgheri, and Chianti—making it an entirely red top five. A white wine, Soave, only appears in sixth place, followed by the red Primitivo di Manduria in seventh.
"There is a kind of comeback for red wines that we perhaps wrote off too prematurely," explained Carlo Flamini. He noted that they are proof that any label can be the right one if it is offered to the right consumer. The very young are proving to be not only the most curious and open to new experiences but also the most receptive to recommendations. While 61% of Gen Z read recommendations or reviews on websites and blogs according to the UIV, the numbers are significantly lower among Millennials (38%) and older generations (24%). Flamini further stated that the generational influence on the willingness to experiment is also evident in the choice of packaging formats. Four out of ten members of Generation Z would buy wine in a can and 17% in a pouch, while these figures drop to 4% and 0% respectively among Boomers.
